Monday, October 13, 2008

Global Economic Turmoil

The whole world was shocked after Lemman Brothers’ declaration of bankruptcy in the United States. Many banks, stockholders, clients all over the world who have investments/stocks/money on Lemman Brothers were confused and worried. And now what? Many countries have declared that their economy is going down like U.S.A, Kuwait, Lebanon, Germany, Japan, South Korea, Russia, France, Hong Kong, Europe, Indonesia and many others. Stock market all over Asia and Europe is falling! I can’t believe these things are happening..This global economic dilemma that we are facing is really devastating. What’s gonna happen to us if this continues?
Money Crisis! Credit Crisis! Financial Crisis…these sayings are common to poor families in my country. More Filipinos are suffering poverty. It is indeed that we are going to celebrate Christmas and welcome the new year dry! no celebration, no food on the table, no money on your pockets….just you and your family waiting for nothing….
If the economy continues to fall, many people will lose their jobs. OFWs (Overseas Filipino Workers) will be forced to go back to their homeland. Call Centers in the Philippines will be pulled out and thousands of Filipino call center agents will lose their jobs. Recessions in U.S, Singapore and in other countries is really devastating. People around the world are very much affected. Tribulation has started and we must prepare ourselves…

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